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Monday December 31, 2012 12:55 PM

LOS ANGELES (AP) -- Netflix CEO Reed Hastings' pay will double to $4 million next year,
after he took a pay cut due to management missteps this year.

Hastings' annual salary will rise to $2 million in 2013 and he will get $2 million in stock
options, according to a securities filing today.

That's up from a salary of $500,000 and $1.5 million in stock options for 2012.

Hastings' total pay for 2012 was down 43 percent from $3.5 million in 2011, when some
controversial decisions, including a steep price hike on subscriptions, sent the stock spiraling.
It fell from a high above $300 to a low below $70 per share.

This year, shares are up 29 percent, closing Friday at $89.33. Recovering from the missteps,
the company expects to add around 5 million U.S. subscribers, to between 26.4 million and 27.1
million by the end of the year.